| Submit your comments on this article |
| Economy |
| Trump plans to slash tax for US corporations |
| 2017-09-28 |
| [Iran Press TV] US President Donald Trump ...New York real estate developer, described by Dems as illiterate, racist, misogynistic, and what ever other unpleasant descriptions they can think of, elected by the rest of us as 45th President of the United States... will unveil a proposal to cut personal and corporate taxes by at least $5 trillion over 10 years, under a sweeping White House and Congressional plan that aims to slash the corporate tax rate by 15 percent, one of the lowest rates in the industrial world. The corporate tax rate would be cut from its present 35 percent ‐ a level that US companies say hurts them in the global market. The average top corporate tax rate worldwide is 22.5 percent. The new proposed US rate is below La Belle France’s 34 percent, Australia’s 30 percent and Japan’s 23 percent. Still, the 20 percent corporate tax rate is short of the 15 percent Trump promised as a candidate and advocated for since reaching office. But the tax cuts still represent a bigger win for companies than some skeptical executives had anticipated. |
| Posted by:Fred |